INPRS confirms $100m commitment

The US public pension has backed a direct lending vehicle.

Institution: Indiana Public Retirement System
Headquarters: Indianapolis, US
AUM: $36.42 billion
Allocation to alternatives: 19.4%

Indiana Public Retirement System approved a $100 million commitment to HPS Specialty Loan Fund V at its June 2020 board meeting, a contact at the pension informed Private Debt Investor.

HPS Investment Partners is in market with its fifth direct lending vehicle. The fund’s immediate predecessor held a final close in October 2017 on $4.5 billion.

The $36.42 billion US public pension has a 1.40 percent percent private debt allocation.

As illustrated below, INPRS’s private debt fund commitments tend to target senior debt vehicles.

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